Regents act on endowed professorships

Establishment of the Max McGraw Professorship in Corporate Environmental Management, to be shared by the School of Business Administration and School of Natural Resources and Environment, was approved by the Regents at their December meeting.

"This professorship is being established as the result of the pledge of a very generous gift of $1.2 million from the McGraw Foundation in recognition of Max McGraw by his family, including grandson Scott M. Elrod, a 1958 M.B.A. graduate from the U-M," said Business School Dean B. Joseph White and Garry D. Brewer, dean of the School of Natural Resources and Environment.

"The purpose of the gift is to help increase knowledge and understanding of corporate management of environmental issues and problems through instruction and research.

"Max McGraw was known as a giver who made significant contributions to many causes, in particular conservation. His drive and ambition took him from his first paper route to the founding of two multimillion dollar corporations, guided always by his motto: `the law of McGraw is quality.'

"The holder of the McGraw Professorship will be a full, tenured professor with an interest in environmental management who shall hold the chair for a five-year, renewable term in the School of Business Administration and the School of Natural Resources and Environment."

Prahalad named to Fruehauf Professorship.

C.K. Prahalad, professor of corporate strategy and international business, also will hold the Harvey C. Fruehauf Professorship of Business Administration in the School of Business Administration.

His appointment to the endowed professorship, effective Jan. 1, was approved by the Regents at their December meeting.

"Prof. Prahalad is one of the world's best known thought leaders in the area of corporate strategy and senior management leadership," said Business School Dean B. Joseph White. "His superb performance in both the School's degree program and executive education classrooms is renowned.

"It is fitting that C.K. Prahalad will hold the Fruehauf Professorship. Harvey Fruehauf was a pioneering and legendary figure in Michigan business history, known for his fresh and innovative thinking, competitive spirit and high standards, and personal leadership."

Walgreen family creates an endowed pharmacy professorship

Establishment of the Charles R. Walgreen Jr. Professorship of Pharmacy in the College of Pharmacy was approved by the Regents at their December meeting.

The endowed professorship will be funded by a pledge of $1.5 million by Leslie Ann Walgreen Pratt of Estes Park, Colo.; James A. and Victoria D. Walgreen of Woodstock, Ill.; and Charles R. III (now chairman and CEO of the national drugstore chain) and Kathleen B. Walgreen of Lake Forest, Ill.

"Since his student days at the U-M, Charles R. Walgreen Jr. has been shaping the future of the College of Pharmacy and the pharmacy profession," said pharmacy Dean Ara G. Paul.

"As a thoughtful adviser, astute counselor and vocal advocate, he has made a lasting impact on the quality and direction of pharmacy education. The establishment by the Walgreen family of the Charles R. Walgreen Jr. Professorship in the College will be a fitting and permanent tribute to an extraordinary gentleman who has, throughout his lifetime, demonstrated compassion, caring and commitment to his College, his profession and society."

Edward Frey Professorship established in School of Business Administration

Establishment of the Edward J. Frey Professorship in Banking in the School of Business Administratio was approved by the Regents at their December meeting.

"This professorship is being established as the result of the very generous pledge of a gift of $1.2 million from the Frey Foundation in recognition of Edward J. Frey by his family," said Business School Dean B. Joseph White.

"Edward J. Frey was a distinguished businessman, innovator, community leader and humanitarian. He developed a number of banking innovations, including installment loans for mobile homes, and founded Foremost Insurance Co., the nation's leading insurer of mobile homes and recreational vehicles."